Finding The Best Small Holdings Mortgage Deal For Your Circumstances
Finding a residential mortgage for a small holding can be tricky territory. High street lenders can be cautious about providing mortgages for properties with large amounts of land due to the upkeep required, potential commercial use and occupancy restrictions. If you’ve got your heart set on your own little parcel of land, don’t worry – there are options out there for you. When the Bank Says No is a team of mortgage experts who specialist in helping clients find mortgage deals for their small holding property. Whether you have bad credit, a small deposit, or have been previously declined, we’re on a mission to take the fear out of the mortgage process, and ensure no obstacles stand in the way of you and your future home.
What is a small holding property?
A small holding is a residential property that has more land than a traditional garden but less than a working farm. They are generally less than 50 acres, though some can be larger and still be classed as such. The land may be used for crop growing and livestock grazing or kept as woodland and grassland.
If you are looking to live in a small holding, you may find the mortgages available to you are limited. The good news is that there are options out there for prospective small holding owners – you just need to know where to look! Our team of experienced mortgage advisors have access to specialist lenders who provide mortgage for small holdings. Whether you want to use your small holding for business or personal use, we can find the right mortgage option for you.
Can you get a residential mortgage for a small holding?
Yes, you can get a residential mortgage on a small holding if you intend to reside there. Even so, some lenders won’t be happy to provide mortgages for these types of properties, but there are options out there – you just need to know where to look! If you intend to run a business from your small holding, a regulated commercial mortgage may be more suitable. There are even solutions if you want to run a holiday let. Our team of experienced mortgage advisors have access to specialist lenders who provide mortgages for small holdings – get in touch and we’ll help you find the right option for you.
Maximise your chance of approval with specialist advice from an expert in Mortgage for Small Holdings
What types of properties can be purchased with a small holding mortgage?
A range of properties can be purchased using a small holding mortgage.
- Holiday lets.
- Airbnbs.
- Cattery.
- Kennel.
- Rental property.
- Campsite.
- Glamping site.
- Vineyard.
Why have I been declined because of the size of the garden?
What you perceive as a garden, a lender might perceive as something else and this may lead them to decline you if they do not specialist in small holding mortgages. A garden bigger than 5 acres could make the lender consider what the land might be used for in the future – opening them up to potential risk. More than that, the upkeep of properties with large amounts of land can be expensive, leading some lenders to factor this into affordability calculations, making you no longer suitable for their lending criteria.
It is important to get advice from a solicitor as to what land restrictions may be in place – if the property has agricultural ties, for example. There may even be restrictions on what plants you can grow there! Whatever the type and intended use of the property, we can help you navigate this tricky territory and set you up for success with your second application.
Small holding mortgages FAQs.
Mortgage for Small Holdings Calculator
Expert mortgage advisors for small holdings.
Small holding residential mortgages can come with added complications, so it’s important to get expert advisors on your team as early as possible in the process. When the Bank Says No specialist in all types of residential mortgages, and have helping many clients achieve the finance they need to secure their small holding property. We don’t care about perfect – we support people in all sorts of situations. Spotless credit file or adverse history, we’re here to help you put your plans for your small holding into action.
Helping you find your patch.
Buying a small holding is an exciting time! You no doubt have big plans for the future, and can’t wait to get started. All that’s left to navigate is the complex mortgage process – and that is easier said than done. Our friendly, approachable team are here to talk everything through and provide specialist advice to help you borrow successfully. From helping you finetune your application to seeking out lenders and analysing terms, we’ll be on your side throughout the process to make sure you get the right deal for you.
